Orcutt/Winslow Partnership will move in the fall to the 440,653-sf office building at 3003 N. Central Ave. "This deal will more than double their space," says Tyler Wilson with Grubb & Ellis/BRE Commercial LLC's Phoenix office, who with Mark Stratz and Gregg Sherman, represented the tenant.
The firm's principals spent about a year looking at office space to replace their offices at 1130 N. 2nd St., considering single-user and multi-tenant buildings. "The appeal to this one was the amount of amenities the building offered," Wilson tells GlobeSt.com. "They could take the jump and take operations to the next level in a space like this and attract and retain people."
Wilson says the quoted rate is $18.75 per sf, full-service. With the tenant improvements involved, the "deal overall averaged the asking price," he says.
While the building's owner, the Krausz Cos. Inc. of San Francisco is kicking in about $35 per sf for the build-out, Wilson says the tenant too is going to invest in the space. "They're an architecture firm," he says. "They're going to make this space look great." Keith Lambeth and Charles Miscio with CB Richard Ellis' Phoenix office represented the Krausz Cos.
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